Eastman Kodak Company (KODK)

[legalizeMJ]

Aricle: KODK stock is worthless, downside of -100%.

https://www.kerrisdalecap.com/wp-content/uploads/2018/02/Eastman-Kodak-Company-KODK.pdf

Kodak faces significant debt maturities, tightening liquidity, and restrictive debt covenants while
financials are in free fall. The company is a sub-scale player in a highly competitive, secularly
declining industry. Management has repeatedly failed to stem negative free cash flow and
botched long promised asset sales. The situation is grim and these same set of circumstances
bankrupted the company 6 years ago. Kodak doesn’t have the luxury of hoping startup
blockchain projects succeed – it’s staring at the possibility of default and a debt restructuring in
the next 12-18 months. Potential ICO proceeds and royalty payments from KODAKOne do not
change the high probability of these events. Rather than dreaming of a “new economy” for
photographers, shareholders should be concerned about an eventual wipe-out. We view the
equity as worthless, implying downside of -100%.

KODK stock is worthless.
Be careful here.
Be VERY careful here.